Even though we do not do this as a brokerage, some businesses in the real estate industry may propose a guaranteed offer for your home if they don’t sell it. And while that could be a good opportunity in some cases, here are four reasons why you should be thoughtful when considering an offer like that as you plan to sell your lake home or any other property.
- Understand. Make sure you fully understand what this offer entails, including the fine print. Some people may assume that if their home does not sell, the company will take their asking price and give them that amount. However, there are usually some caveats to this offer that are not always obvious. Be sure to ask questions and do not be shy — this is your house!
- Not Full-Price. A “guaranteed” offer is not necessarily a “full-priced” offer. Since there are so many wholesalers who partner with brokerages, these offers are usually discounted. Understand what “guaranteed” means relative to price.
- Cost of Time. A lot of these deals have timelines where if your home does not sell in a certain number of days, then they will move forward with their process. This means that if that path does not come to fruition or you do not want to take one of the guaranteed offers, you may have to start over with your marketing, thus making your home appear stale since it’s been on the market for a while. Be aware that if everything does not work out, you need to know how much time that will cost you.
- If It Looks Too Good… This does not mean that anyone is being deceitful, but oftentimes if it looks too good to be true, it just might be. Make sure you know what the offer really is and how it applies to you and your situation.
Whether you’re buying or selling your lake home or property, our agents at Lake Homes Realty can help provide insight into today’s lake real estate market and guide you in your home journey.